I just read Topic 453 - Bad Debt Deduction; but have some questions.
I lent money to someone several years ago and it just definitively became worth nothing. (there was some collateral that took some time to dispose of) As I read 453 it is a short term capital loss entered on 8949, rather than a deduction (as I expected). Is that correct?
What do I put on 8949 for dates? If I put the real dates, it will be a long term loss, so I guess I have to put something else in, but 453 doesn't say what.
Thanks.
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